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Job Creation on a Budget

Job Creation on a Budget: How Regional Industry Clusters Can Add Jobs, Bolster Entrepreneurship, and Spark Innovation

Mark Muro, Kenan Fikri

First published January 2011

The usual recipe of tax credits, R&D, training programs, and physical infrastructure is not sufficient, by itself, to spur ‘organic’ job creation. States also need to cultivate their industry clusters—geographic concentrations of interconnected firms and supporting organizations. Properly designed, cluster strategies are a low-cost way to stimulate innovation, new-firm start-ups, and job creation by helping to link and align the many factors that influence firm and regional growth.

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